How much you need to earn to buy a house in these 25 cities

By DANIEL DEMAY

on September 9, 2016 8:45 PM

Here's how much money you need to earn to buy a house in each of these 25 cities. Wherever possible, we used the same Redfin median sale price data for homes sold within each city's boundaries, not for the metropolitan areas. You'll notice that Minneapolis, then, doesn't include Saint Paul, for example.

To calculate the monthly payments, and subsequently the necessary annual income, we assumed a 20-percent down payment and a 3.75-percent interest rate on a 30-year-fixed mortgage based on the median sale price. We used the Zillow mortgage calculator, which estimates and includes the cost of taxes and insurance.

All those variables can change case by case, so know that things can vary a little or, in some cases, a lot from what we calculated.

Here's how much money you need to earn to buy a house in each of these 25 cities. Wherever possible, we used the same Redfin median sale price data for homes sold within each city's boundaries, not for the

Here's how much money you need to earn to buy a house in each of these 25 cities. Wherever possible, we used the same Redfin median sale price data for homes sold within each city's boundaries, not for the metropolitan areas. You'll notice that Minneapolis, then, doesn't include Saint Paul, for example.

To calculate the monthly payments, and subsequently the necessary annual income, we assumed a 20-percent down payment and a 3.75-percent interest rate on a 30-year-fixed mortgage based on the median sale price. We used the Zillow mortgage calculator, which estimates and includes the cost of taxes and insurance.

All those variables can change case by case, so know that things can vary a little or, in some cases, a lot from what we calculated.

Here's how much money you need to earn to buy a house in each of these 25 cities. Wherever possible, we used the same Redfin median sale price data for homes sold within each city's boundaries, not for the